Are you a resident of Texas with a pending personal injury lawsuit?
A prolonged legal case in the state of Texas can cause financial strain if you are unable to pay for necessities like food, medical bills, and rent or mortgage payments. Here at Nova Legal Funding, we provide immediate financial support to get you through this.
Personal injury lawsuits in Texas are usually complex, and often take months, or even years, to settle. Unfortunately, insurance firms are notorious for purposely slowing the process to encourage clients to accept a lower settlement than they are entitled to. Consequently, many individuals with a pending personal injury lawsuit may need financial help until they receive a payout they’re entitled to. Our pre-settlement loans in Texas can help ease the financial strain faced by plaintiffs.
You can apply for lawsuit funding in Texas at any time during your case, and we aim to cover expenses as quickly as possible, often transferring the money required within 24 hours. At Nova Legal Funding, we work on a no win no fee guarantee, minimising any future financial risk for our clients.
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Texas Pre-Settlement Funding Requirements
To apply for pre-settlement funding in Texas, you just need your name, phone number, and your attorney’s contact information.
Laws and Regulations of Lawsuit Funding in Texas
Important Texas Legal Information
|Avg. Funding per case from Nova Legal Funding||$16,349Nova can fund anywhere from $500 up to $2,500,000 depending on case value.|
|Fault Laws||Modified Comparative Fault – 51% Bar Plaintiff may find his damages reduced by his portion of fault. Tex. Civ. Prac. & Rem. Code Ann. §§ 33.001-33.017.|
|Statute of Limitations||2 years Civ. Prac. & Rem Code, Title 2, Ch. 16, Sec. 16.003|
|Minimum policy limits for bodily injury & property damage||$30,000 bodily injury liability per person $60,000 bodily injury liability per accident $25,000 property damage liability per accident|
|Minimum UIM auto insurance limits||Liability: 30/60/25|
|Workers compensation eligibility||Eligible|
Texas has long advocated alternative funding agreements, with firms helping to popularize contingency fees in US legal cases. Lawsuit funding is a natural extension of this.
Lawyers in Texas are barred from gaining a proprietary interest in the underlying subject of litigation, but this doesn’t prevent third parties from doing so. According to state legislation, funders purchase a contingent right to a share of the plaintiff’s settlement in the event of a win, which does not mean the plaintiff is obligated to repay the advance. This makes the transactions investments rather than loans, so they do not fall under usury laws, making pre-settlement funding in Texas perfectly legal.
Here at Nova Legal Funding, we offer financial assistance and share the proceeds in the event of a client win. Although we may be updated on the results of your case, we are not involved in the legal strategy, nor the terms of the settlement, and so exercise zero control in the case whatsoever.
As is the case with other states, you must pay off your lien if you have previously received funding for the case in question. Only then can we proceed to offer you funding ourselves.
Texas Personal Injury Law: How Does It Affect Legal Funding?
The statute of limitations for personal injury cases in Texas gives the injured party two years from the date of the injury to file a lawsuit against the party at fault. If you miss this window you are unlikely to get your case heard in court, forfeiting any right to compensation.
If a government entity or employee in Texas is potentially to blame for your injury—for instance, you slipped on a poorly maintained stairway of a state-owned building—you have only six months to file your claim. However, you cannot file a claim against the government and need to do so against the governmental unit you think is responsible for your injury. This claim should include a description of the injury, when and where it occurred, and a summary of the incident.
Texas follows a modified comparative negligence rule, meaning courts will reduce the amount of compensation you receive by the percentage of blame assigned to you. Therefore, if you were deemed 15% responsible for your injury, you will lose 15% of your settlement to reflect your share of fault. If you’re ruled to be more than 50% at blame, however, you won’t receive anything at all.
Texas follows the “one bite” rule for dog attacks, meaning owners will only be at-fault for injuries caused by their dog if it can be proved they “should have known” that the animal was dangerous.
In the event of a car accident, Texas follows at-fault laws, meaning that the at-fault driver’s insurance is responsible for compensation. However, the comparative negligence rule applies if both parties involved in the crash are at fault. Under this system, drivers must have the following insurance amounts at all times:
- $30,000 bodily injury liability per person
- $60,000 bodily injury liability per accident
- $25,000 property damage liability per accident
Unfortunately, most drivers in Texas are only insured to the minimum level, meaning you may have to rely on your own insurance if your medical bills exceed $30,000, or if the total of all parties’ is more than $60,000. Having uninsured motorist coverage is advisable, as this will protect you if you are injured by a driver with insufficient coverage or no insurance at all. This will also cover you in a hit and run incident
The state of Texas caps damages for medical malpractice cases. In most of these cases, non-economic damages, such as pain and suffering, are capped at $250,000 per defendant, and $500,000 overall.
Notable Personal Injury Lawyers in Texas
There are many professional personal injury lawyers in Texas who would be more willing to take on your case:
Stewart J. Guss
12777 Jones Road, Suite 297, Houston, TX 77070
630 Broadway St, San Antonio, TX 78215
4925 Greenville Ave #1022, Dallas, TX 75206
1401 Holliday, Suite 400, Wichita Falls, TX 76301
750 Kearns Boulevard Suite 150, Park City, UT 84060
Kenneth L. Christensen
3102 Maple, Suite 400, Dallas, TX 75201
Car Accident and Fatality Statistics in Texas
Texas’ roads are notorious for their busyness, which causes frequent accidents. The latest data from the U.S. Department of Transportation‘s Fatality Analysis Reporting System shows that there were a total of 3,343 fatal crashes in Texas during 2017, causing 3,722 deaths. This amounts to roughly to 13.1 deaths per 100,000 of the population, and 1.38 deaths per 100 million vehicle miles travelled. Of these crashes, 37% of were car occupants, 26% were pickup and SUV occupants, whilst 14% were motorcyclists. Of the 1,776 drivers involved in the accidents, 51% were drunk-drivers.
Texas Lawsuit Funding FAQs
Any personal injury sustained because of another individual or entity makes you eligible for lawsuit funding in Texas. As long as you were injured within the state, you automatically qualify for a quick and free application with Nova Legal Funding.
Despite its name, we provide cash advances to our clients. Because they’re non-recourse, clients are under no obligation to pay back the money if they lose the case. We only collect from claimants that win their case or obtain a settlement.
It is completely up to you how you spend your pre-settlement loan. Lawsuit funding is for those who need help avoiding financial difficulties during a legal case. Previous clients have used the funding to pay off debt, keep up to date with rent, or cover daily living expenses.
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Cases We Fund
Nova’s rates are as low as 1-3%. Our mission is to have some of the lowest rates in the industry. We’ll match or beat anyone’s rate.